Last year ME Bank proposed to help Australians looking to maximize low-interest rates and extra savings they may have acquired during the COVID-19 pandemic. ME Bank has sanctioned research on a highly anticipated list of 20 best places to invest in Australia.
Qualitative and quantitative criteria were also applied to identify suburbs with the best investment prospects. These factors include:
- how new transport infrastructure would re-shape the investment landscape across the range of suburbs;
- average rental yields;
- recent population growth;
- median house prices; and
- average rental prices together with lifestyle appeal measurables such as the availability of coffee shops and cafes.
From the 20 places mentioned all over Australia, 5 areas in Queensland made it to the list.
Rank 1: Woolloongabba
Rank 2: Burleigh Heads
Rank 17: Mermaid Beach
Rank 18: Miami
Rank 20: Fairfield
Ethos Urban consulting demographer Chris McNeil said transport, attractiveness for renters, the town center, and potential for new developments weighed heavily in the criteria.
“The new Cross City Rail and the Burleigh Heads Light Rail will turbo charge value along the picturesque coast line of the Gold Coast, adding to its already valuable apartment living and growing retail focus, creating greater connectivity to both the Coolangatta (including Airport) and Surfers Paradise for the three Gold Coast suburbs of Burleigh Heads, Mermaid Beach and Miami.”
“This will only be bolstered in the coming years as Brisbane prepares its infrastructure for the 2032 Olympics.
“Add to this the exciting atmosphere in Logan Street, its rapid population growth and steady house price growth, and it really does offer a unique opportunity for those looking to invest in the residential property market.”
While residential property prices are expected to increase 25 percent for houses and 14 percent this year, they are about to moderate.
The latest prediction for property prices shows houses will increase 6 percent next year before dropping by 11 percent while units will almost hold steady with an increase by 9 percent and drop by 7 percent in 2023.